This book, tested in the classroom, presents the fundamental concepts, the basic tools, and the applications of microeconomics with practical problems, exercises, explanatory examples, and engaging applications that firmly ground theory in the real world.
Each chapter, which begins with a series of clearly defined learning objectives based on Bloom's Taxonomy, includes numerous problems, using the Learning by Doing method, mathematical and graphical data, as well as a focus on recent current events.
All applications reflect current data and significant new developments in the field of economics, including behavioral economics, randomized controlled trials (RCT) in evaluation and policy design, and computational microeconomics.
The updated introductory texts in each chapter cover topics such as the economic impacts of climate change, household income and spending in the USA, dynamic pricing by Uber and Lyft, the impact of immigration on wages, and developments in robotics, automation, artificial intelligence – and much more.
